California Code of Civil Procedure 697.620 – (a) As used in this section:(1) “Cash proceeds” means …
(a) As used in this section:
(1) “Cash proceeds” means money, checks, deposit accounts, and the like.
Terms Used In California Code of Civil Procedure 697.620
- debtor: means the debtor from whom the liability is sought to be collected. See California Code of Civil Procedure 688.040
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action, and evidences of debt. See California Code of Civil Procedure 17
- Property: includes both personal and real property. See California Code of Civil Procedure 17
(2) “Proceeds” means identifiable cash proceeds received upon the sale, exchange, collection, or other disposition of property subject to a judgment lien on personal property.
(b) Except as provided in subdivision (c), the judgment lien on personal property continues in the proceeds with the same priority.
(c) In the event of insolvency proceedings (as defined in § 1201 of the Commercial Code) instituted by or against the judgment debtor, the judgment lien continues under subdivision (b) only in the following proceeds:
(1) Proceeds in a separate deposit account containing only proceeds.
(2) Proceeds in the form of money which are neither commingled with other money nor deposited in a deposit account prior to the insolvency proceedings.
(3) Proceeds in the form of checks and the like which are not deposited in a deposit account prior to the insolvency proceedings.
(Added by Stats. 1982, Ch. 1364, Sec. 2. Operative July 1, 1983, by Sec. 3 of Ch. 1364.)